Oracle Corporation (ORCL) Price Target Raised to $56.00
Oracle Corporation (NYSE:ORCL) had its price objective raised by Royal Bank Of Canada from $53.00 to $56.00 in a research note issued to investors on Tuesday morning, MarketBeat.com reports. They currently have an outperform rating on the enterprise software provider’s stock.
Other analysts have also issued research reports about the stock. Goldman Sachs Group, Inc. (The) set a $49.00 target price on shares of Oracle Corporation and gave the stock a buy rating in a research report on Monday, June 12th. Rosenblatt Securities restated a buy rating and set a $55.00 target price on shares of Oracle Corporation in a research report on Wednesday, June 21st. Jefferies Group LLC restated a buy rating and set a $52.00 target price on shares of Oracle Corporation in a research report on Tuesday, June 20th. Zacks Investment Research upgraded shares of Oracle Corporation from a hold rating to a buy rating and set a $50.00 price target on the stock in a report on Thursday, June 15th. Finally, Canaccord Genuity reiterated a buy rating and issued a $49.00 price target on shares of Oracle Corporation in a report on Friday, May 26th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and thirty-three have assigned a buy rating to the company. The stock has an average rating of Buy and an average price target of $52.26.
Oracle Corporation (NYSE:ORCL) opened at 52.86 on Tuesday. Oracle Corporation has a one year low of $37.62 and a one year high of $53.14. The stock’s 50 day moving average price is $50.01 and its 200 day moving average price is $46.93. The firm has a market capitalization of $218.67 billion, a PE ratio of 23.92 and a beta of 1.05.
Oracle Corporation (NYSE:ORCL) last announced its earnings results on Thursday, September 14th. The enterprise software provider reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. Oracle Corporation had a net margin of 24.74% and a return on equity of 20.90%. The firm had revenue of $9.21 billion for the quarter, compared to analyst estimates of $9.03 billion. During the same quarter last year, the business earned $0.55 earnings per share. Oracle Corporation’s revenue was up 7.0% compared to the same quarter last year. Analysts expect that Oracle Corporation will post $2.94 EPS for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 11th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.44%. Oracle Corporation’s dividend payout ratio (DPR) is currently 34.55%.
In other news, EVP W Corey West sold 150,000 shares of Oracle Corporation stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $51.39, for a total value of $7,708,500.00. Following the sale, the executive vice president now directly owns 177,988 shares in the company, valued at $9,146,803.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Hector Garcia-Molina sold 3,750 shares of Oracle Corporation stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $48.86, for a total transaction of $183,225.00. Following the completion of the sale, the director now owns 18,125 shares in the company, valued at $885,587.50. The disclosure for this sale can be found here. Insiders have sold a total of 1,813,750 shares of company stock worth $91,393,788 over the last 90 days. Corporate insiders own 29.00% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Oracle Corporation by 2.6% in the second quarter. Vanguard Group Inc. now owns 206,441,876 shares of the enterprise software provider’s stock valued at $10,350,996,000 after purchasing an additional 5,270,359 shares during the last quarter. BlackRock Inc. grew its stake in shares of Oracle Corporation by 2.5% in the second quarter. BlackRock Inc. now owns 193,791,492 shares of the enterprise software provider’s stock valued at $9,716,707,000 after buying an additional 4,678,977 shares in the last quarter. State Street Corp grew its stake in shares of Oracle Corporation by 1.0% in the first quarter. State Street Corp now owns 123,195,917 shares of the enterprise software provider’s stock valued at $5,495,769,000 after buying an additional 1,187,802 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Oracle Corporation by 2.9% in the first quarter. Bank of New York Mellon Corp now owns 53,750,832 shares of the enterprise software provider’s stock valued at $2,397,824,000 after buying an additional 1,521,879 shares in the last quarter. Finally, Harris Associates L P grew its stake in shares of Oracle Corporation by 17.9% in the second quarter. Harris Associates L P now owns 48,989,216 shares of the enterprise software provider’s stock valued at $2,456,319,000 after buying an additional 7,427,501 shares in the last quarter. Institutional investors own 58.67% of the company’s stock.
Oracle Corporation Company Profile
Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
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